HSBC plans 15-month buffered AMPS linked to iShares FTSE/Xinhua China

By Jennifer Chiou

New York, July 28 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Nov. 30, 2011 linked to the iShares FTSE/Xinhua China 25 index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, up to a maximum return of 18.5% to 23.5%. The exact cap will be set at pricing.

Investors will receive par if the fund falls by up to 10% and will be exposed to any decline beyond 10%.

The notes (Cusip 4042K04K8) are expected to price on Aug. 24 and settle on Aug. 27.

HSBC Securities (USA) Inc. is the agent.

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